The Target Market for my product is really just anyone who likes to have fun, but with a new twist. Social Drinkers, who usually like to sip on a nice refreshing beverage at a bar or club. Maybe even people who are throwing a big party and want to serve something a little exotic. There’s really no limit, except for minors of course. There in lies the problem in the industry, trying to promote your product, without promoting the consumption of it.
So what kind of product do I have? I have a consumer product. “We need to know about product classifications because business and consumer product classifications because business and consumer products are marketed differently. They are marketed to different target markets and tend to use different distribution, promotion, and pricing strategies. (MKTG, Lamb, Hair, McDaniel pg 131, chp 9).
The type of consumer product is hard to classifiy because it falls under a lot of different categories. But the category that Victoria Falls Vodka falls into is the Specialty Product category. You would think that maybe it would be considered an unsought product, but the way that it is going to be promoted, advertised, andwhat stores and public places would carry the item, I consider it to be a Specialty item. Mostly the big variety liquor stores or specialty stores that have an extensive selection in the liquor department, will carry it. Also it will be available in clubs. When it comes to the financial resources, there is a lot to consider. Besides the funds needed for manufacturing and shipping, because the prodct is made over seas, then shipped here, I have to be concerned about promotion funds. I have to rely mostly on free publicity and maybe buying a page or two fo the city papers to get my product out there.
Thursday, September 24, 2009
External Marketing Environment
External Marketing Environment
This is a part of marketing that everybody has to be concerned about. “ The goal in gathering environmental data is to identify future market opportunities and threats” (MKTG Lamb, pg 33 Chp3) . The main points are demographics, economics, and all of the competition.
Since Victoria Springs Vodka is an alcoholic beverage, of course I’m not going to spotlight on the Tweens. That would be illegal and morally wrong. So the people making the purchases are Generation X, and Y, hopefully even some baby boomers. With people under Generation Y, there are strengths and weaknesses present. Since this generation is the most diverse when it comes to the different mixes of races it is more likely that with the right promotion, my product will be consumed by a wide variety of races, instead of just the main ones. Also, people my age are very opinionated and are not afraid to express themselves. So it could be a good or a bad thing, about the word of mouth about your product, i.e. when they tell their friends, have you heard of this, have you tasted this, what you think of it and so on. And now with the use of the internet rising their opinion is able to get out to the masses a lot faster through blogs, myspace, etc. The major one is through twitter, where you can send one message and everybody and their mother wil hear about it.
Generation X and Baby boomers are less likely to buy the product as much, because they focus more on their families and their spending habits go according to their lifestyle. Younger people are more likely to go out to clubs and stuff than older people, and that is usually the main motivation in buying a drink. Older people tend to buy drinks when they have social gatherings or maybe as a niche. But the positive side to that is “ Baby boomers are likely to be vigorous consumers in the future, and even though hidstorically, consumers lock in brand preferances by the age of 40, todays over-50 crowd is just as likely- and in some cases more likely- as younger generations to try different brands within product category. (MKTG Lamb, Hair, McDaniel, pg 36, Chp 3).
On my approach of who I’m targeting I’m using and undifferentiated targeting strategy because everybody who consumes alcohol is a potential target. But usually when it comes to alcohol there ends up being gender segmentation because ads and club promoters etc, focus on women. Statistics do say that women are the major consumers of alcohol, because men tend to buy more beer.
This is a part of marketing that everybody has to be concerned about. “ The goal in gathering environmental data is to identify future market opportunities and threats” (MKTG Lamb, pg 33 Chp3) . The main points are demographics, economics, and all of the competition.
Since Victoria Springs Vodka is an alcoholic beverage, of course I’m not going to spotlight on the Tweens. That would be illegal and morally wrong. So the people making the purchases are Generation X, and Y, hopefully even some baby boomers. With people under Generation Y, there are strengths and weaknesses present. Since this generation is the most diverse when it comes to the different mixes of races it is more likely that with the right promotion, my product will be consumed by a wide variety of races, instead of just the main ones. Also, people my age are very opinionated and are not afraid to express themselves. So it could be a good or a bad thing, about the word of mouth about your product, i.e. when they tell their friends, have you heard of this, have you tasted this, what you think of it and so on. And now with the use of the internet rising their opinion is able to get out to the masses a lot faster through blogs, myspace, etc. The major one is through twitter, where you can send one message and everybody and their mother wil hear about it.
Generation X and Baby boomers are less likely to buy the product as much, because they focus more on their families and their spending habits go according to their lifestyle. Younger people are more likely to go out to clubs and stuff than older people, and that is usually the main motivation in buying a drink. Older people tend to buy drinks when they have social gatherings or maybe as a niche. But the positive side to that is “ Baby boomers are likely to be vigorous consumers in the future, and even though hidstorically, consumers lock in brand preferances by the age of 40, todays over-50 crowd is just as likely- and in some cases more likely- as younger generations to try different brands within product category. (MKTG Lamb, Hair, McDaniel, pg 36, Chp 3).
On my approach of who I’m targeting I’m using and undifferentiated targeting strategy because everybody who consumes alcohol is a potential target. But usually when it comes to alcohol there ends up being gender segmentation because ads and club promoters etc, focus on women. Statistics do say that women are the major consumers of alcohol, because men tend to buy more beer.
External opportunities
“External Stimuli are influences from an outside source such as someone’s recommendation of a new restaurant, the design of the package or an advertisement on television or radio.” (MKTG Lamb, Hair, McDaniel, pg 64, chp5) .Basically what that is saying, is that normally people aren’t just going to crave alcohol like they crave a soda, they usually have to have a reason for wanting alcohol, like whatever activities they are going to engage in, or the time of day it is. That is just one of the factors that influence people to purchase items. One of the biggest influences is culture. That is one of the reason’s why my Vodka is unique. It’s because it’s inspired by my country Zimbabwe. The ingredients of the fruits that it’s made with, to the Springs of Victoria Falls that it is grained and fermented with. There are 28 different countries that have produced one or more different brands of Vodka, my country is going be the 29th. Does this mean that I’m necessarily targeting Africans or African American’s, no. Nevertheless they are a big target, especially here in Las Vegas. They probably would be the majority at first to buy the product, especially out of curiosity. But then again there are a lot of liquor’s that make a killing off of African American sales alone. I don’t have any exact facts but, from what I experienced a lot of African Americans tend to bend more to cognacs more than other types of liquor, and that usually is Hennessey. When I’m at the clubs, most of them are drinking dark liquors more than other ones. That’s not to say they don’t drink anything else, but that is more of their preference. As a promotional strategy for my product I can have a special sale on February, black history month. It would be very popular becauseit already has the African theme so it would work very well with the occasion. “Not only are companies designing products and services for the African American market, they are also targeting promotional activities to reach this group of consumers” (MKTG Lamb, Hair, McDaniel, pg 64, chp 3)
“One of the primary benefits of advertising is its ability to communicate to a large number of people at one time.” (MKTG Lamb, Hair, McDaniels, pg 212, Chp 14) To do that is easy and hard at the same time. The easy part is all the media that is available to get your message out to the masses. The hard thing is to make your message unique so that it stands out from everybody else, especially when it’s a different variation of a product that is already in effect.
“One of the primary benefits of advertising is its ability to communicate to a large number of people at one time.” (MKTG Lamb, Hair, McDaniels, pg 212, Chp 14) To do that is easy and hard at the same time. The easy part is all the media that is available to get your message out to the masses. The hard thing is to make your message unique so that it stands out from everybody else, especially when it’s a different variation of a product that is already in effect.
Promotion
A very effective way is with television commercials. I would have a television commercial and find a famous big name celebrity, most likely a hip hop star, to play in the commercial. And just by him drinking alone will help promote the product. “Message execution is the way an advertisement portrays it’s information. (MKTG Lamb, Hair, Mcdaniel pg 230)Like for example, the drink Hypnotiq wasn’t really popular when it first came out, until R. Kelly had it in his video’s and said it in his party songs. Then everybody wanted to go to the club and drink Hypnotiq.
The internet has sites like blogspot.com and myspace. Facebook, twitter, etc. to get out to the masses. “Blogging alters the marketing communication process for the promotional elements that rely on mass communication- advertising, public relations, and sales promotions-by moving them away from impersonal, indirect communication toward a personalized, direct communication model. (MKTG Lamb, Hair, McDaniel, pg217 chp14). That could make or break your product, because if it doesn’t taste good, then word could get out about it and people will leave it on the shelves. At the same time, just out of curiosity people will buzz about it and it would reach more ears n spread like the game telephone.
Persuading peole to buy you product over another is a big part of advertising. In my case, I have to show people what makes my vodka different from the thousands of other ones out there. What makes mine unique is the fact that when you drink it, you taste three different fropical fruit flavors, that are authentic to my country because of the ingredients. “Persuasive promotion is designed to stimulate a purchase or an action.” MKTG Lamb, Hair, McDaniel pg218).
The benefits of Victoria Springs Vodka is that it gives you a refreshing taste and makes you feel like you are under the sprinkles of the Victoria Falls. It will taste good and just go with any occasion that you feel like drinking it. “A benefit is what consumers will receive or achieve by using the product. MKTG Lamb, Hair, McDaniels, pg 230).
The internet has sites like blogspot.com and myspace. Facebook, twitter, etc. to get out to the masses. “Blogging alters the marketing communication process for the promotional elements that rely on mass communication- advertising, public relations, and sales promotions-by moving them away from impersonal, indirect communication toward a personalized, direct communication model. (MKTG Lamb, Hair, McDaniel, pg217 chp14). That could make or break your product, because if it doesn’t taste good, then word could get out about it and people will leave it on the shelves. At the same time, just out of curiosity people will buzz about it and it would reach more ears n spread like the game telephone.
Persuading peole to buy you product over another is a big part of advertising. In my case, I have to show people what makes my vodka different from the thousands of other ones out there. What makes mine unique is the fact that when you drink it, you taste three different fropical fruit flavors, that are authentic to my country because of the ingredients. “Persuasive promotion is designed to stimulate a purchase or an action.” MKTG Lamb, Hair, McDaniel pg218).
The benefits of Victoria Springs Vodka is that it gives you a refreshing taste and makes you feel like you are under the sprinkles of the Victoria Falls. It will taste good and just go with any occasion that you feel like drinking it. “A benefit is what consumers will receive or achieve by using the product. MKTG Lamb, Hair, McDaniels, pg 230).
Thursday, September 17, 2009
Eoc week 10
My favorite store that I like to go to is Best Buy. The reason why I love that store is because I love electronics. The only other store that offered electronics like best buy was Circuit City, but they went out of business. Even if they were still in business I still would go to Best Buy because they have a wider range of electronics. Also
Best Buy has bigger departments than any other Electronic store. For example, they have an excellent selection of music cd’s. I’m a big lover of Hip Hop music. You can basically call me a connoisseur of Hip Hop music. I don’t really listen to any mainstream rap so I go for old and semi new “underground” or independent artists. Other Electronic stores don’t carry those cd’s. Also Best Buy’s prices for cd’s are $14.99 or cheaper.
One of the main reason why I love Best Buy is that when I walk into the store, I feel like a little kid walking in a toy store. There are tons of gadgets and video games and electronics that you can play with. You can test out almost all the products before you even purchase them. I like that about the stores. Also I have a lot of knowledge about a lot of products so I go there to pick the brains of all the employees that work there. I always walk out the store saying “I already knew all that, but I just didn’t know the technical way to approach it.
Best Buy has bigger departments than any other Electronic store. For example, they have an excellent selection of music cd’s. I’m a big lover of Hip Hop music. You can basically call me a connoisseur of Hip Hop music. I don’t really listen to any mainstream rap so I go for old and semi new “underground” or independent artists. Other Electronic stores don’t carry those cd’s. Also Best Buy’s prices for cd’s are $14.99 or cheaper.
One of the main reason why I love Best Buy is that when I walk into the store, I feel like a little kid walking in a toy store. There are tons of gadgets and video games and electronics that you can play with. You can test out almost all the products before you even purchase them. I like that about the stores. Also I have a lot of knowledge about a lot of products so I go there to pick the brains of all the employees that work there. I always walk out the store saying “I already knew all that, but I just didn’t know the technical way to approach it.
Thursday, September 3, 2009
My Marketing Plan Ideas
What i'm planning on doing is a kind of infomercial/ commercial of my product with a power point presentation. My product is Victoria Springs Vodka, made form Victoria Falls In zimbabwe. I already got an idea for a design for the vodka bottle. It is going to be a bottle shaped just like the Zimbabwean bird that is on our flag. Its One side is going to be see through, then the back is going to have a picture of the Victoria falls on the inside, kinda like Parrot Bay liquor or Fuji water. I plan on designing the bottle using photo shop.
I still have not came up with the perfect sales pitch, but once I have all the pertinent information needed and research for the project I will be able to come up with one. My main focus though is on the cultural aspect of the vodka.
I still have not came up with the perfect sales pitch, but once I have all the pertinent information needed and research for the project I will be able to come up with one. My main focus though is on the cultural aspect of the vodka.
Thursday, August 27, 2009
Vodka Pitch for Marketing Plan
Vodka Pitch for marketing plan.
Victoria Springs Vodka
This vodka comes straight from the springs of the Victoria Falls in Zimbabwe. But it's not just any vodka, this Vodka gives an exuberant taste of 3 different Tropical fruits only grown in Zimbabwe. fruits
Firmented from Maize and sugar cane, tree nuts, and grapes
Three flavors of taste: marula, which is a mood enhancer/ muroro, also called the sugar apple/
Victoria Springs Vodka
This vodka comes straight from the springs of the Victoria Falls in Zimbabwe. But it's not just any vodka, this Vodka gives an exuberant taste of 3 different Tropical fruits only grown in Zimbabwe. fruits
Firmented from Maize and sugar cane, tree nuts, and grapes
Three flavors of taste: marula, which is a mood enhancer/ muroro, also called the sugar apple/
Subscribe to:
Posts (Atom)